Monday, April 7, 2014

Another Fraudulent Jobs Report

The March payroll jobs report released April 4 claims 192,000 new
private sector jobs. Here is what John Williams has to say about the
claim:

The Bureau of Labor Statistics (BLS)
deliberately publishes its seasonally-adjusted historical
payroll-employment and household-survey (unemployment) data so that the
numbers are neither consistent nor comparable with current headline
reporting. The upside revisions to the January and February monthly
jobs gains, and the relatively strong March payroll showing, reflected
nothing more than concealed, favorable shifts in underlying seasonal
factors, hidden by the lack of consistent BLS reporting. In like
manner, consistent month-to-month changes in the unemployment rate or
labor force simply are not knowable, because the BLS cloaks the
consistent and comparable numbers.

Here is what Dave
Kranzler has to say: “the employment report is probably the most
deceptively fraudulent report produced by the Government.”

As I have pointed out for a decade, the “New Economy” jobs that we were
promised in exchange for our manufacturing jobs and tradable
professional service jobs that were offshored have never shown up. The
transnational corporations and their hired shills among economists lied
to us. Not even a jobs report as deceptive and fraudulent as the BLS
payroll jobs report can hide the fact that Congress, the White House,
and the American people have sat sucking their thumbs while corporations
maximized profits for the one percent at the expense of everyone else
in the United States.